Malls, retailers record good sales this season
Malls and retail players across India have benefited from festive shopping this Christmas and New Year, report S Turakhia and Radhika Pancholi.Updated: Jan 01, 2008 22:05 IST
Malls and retail players across India have benefited from festive shopping this Christmas and New Year. The season is contributing more, every year to the turnover of organised retail chains. From premium mobile handsets to fine jewellery, Indian consumers have definitely indulged in some real good shopping. Interestingly, desktops and laptops are increasingly being gifted these days.
Speaking to Hindustan Times, Shoppers' Stop customer care associate and CEO Govind Shrikhande said, "Trendwise, Diwali and Christmas have grown well. The growth is on lines of our first half growth of same store, which was 15 per cent as compared to previous year."
He further said that categories like jewellery and watches have clocked fast growth.
Globus, another retail chain has also observed good sales. CEO Vinay Nadkarni said, "While growth may not have been spectacular the way it is in Diwali, the shopping frenzy during the turn-up to the new year has still given Globus a lot to smile about. We have seen a healthy 10-12 per cent growth in this period."
Talking about specific trends, Nadkarni said that dresses remained a favourite with women while men stayed away from party wear opting for casual denims instead.
New retail formats have also gained momentum. Home Town, a home furnishing format from Future Group, which has five outlets as of now has already met an 'ambitious target' that it had set for itself. Mahesh Shah, CEO of Home Town said, "We have seen a 70 to 80 per cent jump in our business in the eight days starting Christmas. Nearly 50 per cent of the entire sales of December have been achieved in these eight days. The stores had a footfall of 35000 people at each of its stores."
Rajiev Grover, Director-Consumer, HP, which has the Compaq and HP Pavilion range of desktops and laptops said, "In the last 10 days of December, 40 to 45 per cent of the month's sales have come about. What is interesting to note is that while earlier desktops and laptops were bought in March or September to avail of good depreciation, these products are now showing patterns of durables and not just portables. These products are also being gifted and the consumer market for them is definitely big."
Kishore Biyani, CEO of Future Group said, "We are yet to ascertain the exact sales growth but it is definitely upwards by 10 per cent over last year."
Ritesh Rathi, COO of Vishal Retail, did not divulge any figures but said, "The response has been very good. Apparels contributed largely to the sales."